Tofas shares drop 7% in Turkey as new Fiat Doblo to be made in Spain

Tofas Turk Otomobil Fabrikasi

07/06/2022 07:55

ISTANBUL, June 7 (Reuters) - Shares in Turkish automaker
Tofas dropped more than 7% on Tuesday after it said Fiat
(Stellantis)  STLA.MI  had announced that the new Fiat Doblo
will be produced in a Stellantis factory in Spain.
    Tofas previously said Fiat Doblo production would continue
at the Tofas factory until end-2022. It said in its latest
statement that assessments on prolonging the current version of
Fiat Doblo production until end-2023 as well as potential
production of new models was ongoing.
    Tofas is a joint venture of Turkey's Koc Holding  KCHOL.IS 
and Fiat. Stellantis was formed in 2021 through the merger
between France's PSA and Fiat Chrysler.

 (Reporting by Can Sezer
Writing by Daren Butler
Editing by Jonathan Spicer)
 ((daren.butler@tr.com; +90-212-350 7053; Reuters Messaging:
daren.butler.thomsonreuters.com@reuters.net))